5,601,190 Shares in UiPath Inc. (NYSE:PATH) Bought by Norges Bank

Norges Bank bought a new stake in UiPath Inc. (NYSE:PATH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,601,190 shares of the company’s stock, valued at approximately $71,191,000. Norges Bank owned 1.02% of UiPath as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its stake in shares of UiPath by 554.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,026,502 shares of the company’s stock worth $51,539,000 after purchasing an additional 3,411,562 shares during the period. Worldquant Millennium Advisors LLC bought a new position in UiPath in the third quarter worth approximately $19,071,000. Vanguard Group Inc. raised its position in UiPath by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 46,664,124 shares of the company’s stock worth $593,101,000 after acquiring an additional 576,458 shares during the period. Geode Capital Management LLC grew its position in shares of UiPath by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,312,068 shares of the company’s stock valued at $93,619,000 after acquiring an additional 493,502 shares during the period. Finally, Washington Harbour Partners LP purchased a new stake in shares of UiPath in the 3rd quarter worth $5,684,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PATH. JPMorgan Chase & Co. lifted their target price on UiPath from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group cut their price objective on UiPath from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Bank of America reaffirmed an “underperform” rating and set a $10.00 price target (down previously from $18.00) on shares of UiPath in a report on Thursday, March 13th. UBS Group reduced their price objective on shares of UiPath from $14.00 to $10.00 and set a “sell” rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI dropped their target price on shares of UiPath from $16.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average price target of $13.62.

Insider Transactions at UiPath

In other UiPath news, CAO Hitesh Ramani sold 25,000 shares of UiPath stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.05, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer now directly owns 269,421 shares of the company’s stock, valued at $3,515,944.05. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ashim Gupta sold 47,227 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $13.06, for a total transaction of $616,784.62. Following the completion of the sale, the chief financial officer now directly owns 856,538 shares in the company, valued at approximately $11,186,386.28. This represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.37% of the company’s stock.

UiPath Stock Performance

Shares of PATH opened at $10.82 on Thursday. UiPath Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $22.11. The company’s fifty day moving average is $12.73 and its 200 day moving average is $13.00. The stock has a market capitalization of $5.97 billion, a PE ratio of -67.63 and a beta of 1.00.

UiPath Company Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.